Evolent Health, Inc. (NYSE:EVH) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in shares of Evolent Health, Inc. (NYSE:EVH) by 10.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 86,442 shares of the technology company’s stock after selling 9,909 shares during the period. State of New Jersey Common Pension Fund D owned about 0.08% of Evolent Health worth $2,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Evolent Health by 2.7% during the third quarter. Vanguard Group Inc. now owns 10,594,640 shares of the technology company’s stock valued at $288,492,000 after purchasing an additional 274,288 shares during the period. Wellington Management Group LLP lifted its position in Evolent Health by 11.9% during the third quarter. Wellington Management Group LLP now owns 4,239,198 shares of the technology company’s stock valued at $115,433,000 after purchasing an additional 449,664 shares during the period. Rock Springs Capital Management LP lifted its position in Evolent Health by 1.6% during the third quarter. Rock Springs Capital Management LP now owns 3,865,000 shares of the technology company’s stock valued at $105,244,000 after purchasing an additional 61,500 shares during the period. RA Capital Management L.P. acquired a new position in Evolent Health during the third quarter valued at $74,520,000. Finally, Bank of New York Mellon Corp lifted its position in Evolent Health by 8.7% during the third quarter. Bank of New York Mellon Corp now owns 1,655,609 shares of the technology company’s stock valued at $45,082,000 after purchasing an additional 133,038 shares during the period.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EVH shares. Citigroup began coverage on shares of Evolent Health in a research report on Monday, April 22nd. They set a “buy” rating and a $40.00 target price for the company. William Blair reiterated an “outperform” rating on shares of Evolent Health in a research report on Tuesday, January 9th. Canaccord Genuity Group decreased their price objective on shares of Evolent Health from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, March 28th. JPMorgan Chase & Co. decreased their price objective on shares of Evolent Health from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. Finally, JMP Securities upped their price objective on shares of Evolent Health from $37.00 to $38.00 and gave the stock a “market outperform” rating in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.70.

Evolent Health Stock Performance

EVH stock opened at $27.65 on Monday. The firm has a 50-day simple moving average of $31.77 and a 200-day simple moving average of $30.29. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. Evolent Health, Inc. has a 52 week low of $23.33 and a 52 week high of $36.70.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, February 22nd. The technology company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.13. The business had revenue of $556.06 million during the quarter, compared to analysts’ expectations of $541.87 million. Evolent Health had a negative net margin of 5.76% and a positive return on equity of 6.60%. On average, analysts predict that Evolent Health, Inc. will post 0.87 EPS for the current year.

Evolent Health Profile

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.